Copper Fox Metals Announces Corporate Update

Copper Fox Metals Inc. (TSXV:CUU) announced an update of the activities of Copper Fox, its subsidiaries, and its 65.4% controlled company, Carmax Mining Corp. The activities undertaken by Copper Fox in 2015 materially advanced all its projects including the studies completed by the Schaft Creek Joint Venture.
As quoted in the press release:

Schaft Creek Joint Venture:
The management committee meeting for the fourth quarter 2015 was held in January 2016. Activities completed during the last quarter of 2015 included updating of the geological model to increase the confidence level in, and understanding of, the geology of the Schaft Creek deposit.
A review of comminution data based on geometallurgical principals has provided an improved view of variability in the deposit. This will guide future work in optimizing the design of the project’s crushing and grinding circuits.
The results of the soil sampling completed south of the Liard zone identified a copper-molybdenum geochemical anomaly that extends over an 800m horizontal distance.
During the quarter the SCJV increased its equity ownership in Liard Copper Mines Limited (“Liard”) to 85.45%. Liard holds a 30% net proceeds royalty on the Schaft Creek deposit.
Van Dyke Project:
The completion of the Preliminary Economic Assessment (“PEA”) added an after tax NPV of $US149.5 million to the value of the Company. This was a considerable achievement considering the conservative approach adopted to complete the PEA and that Copper Fox’s total expenditures from the date of acquiring the project (including the drilling and metallurgical studies completed in 2014) to completion of the PEA were approximately $US11.0 million. The PEA has identified several enhancements that, with positive results from additional testing and engineering, could extend the mine life and significantly increase project economics, indicating that Van Dyke could become a strong project in the mid-size copper development space.
The PEA recommended that the work (including additional diamond drilling and an in-situ pilot leach test) required for a pre-feasibility study be completed which is estimated to be approximately $US16.6 million. Copper Fox is currently assessing its options to move this project forward including community presentations and further investigating the permitting process in Arizona.
Mineral Mountain Project:
Exploration to discover new porphyry copper districts is fundamental to the future of the copper industry. Future exploration will require a more integrated scientific approach and become more focused on exploration for deep (buried) porphyry copper deposits. The Mineral Mountain project provides a cheap, early stage exposure to copper exploration in the Laramide porphyry copper province in Arizona, one of the most prolific copper mineralized districts in the world. Arizona is mining friendly, politically secure and has excellent and readily accessible infrastructure.
The Mineral Mountain project is interpreted to be the surface expression of a buried porphyry copper system. Three large zones of copper mineralization (a total of 21 occurrences) in outcrop with strongly anomalous molybdenum-gold-silver-tungsten-bismuth (all indicators elements for porphyry environment) values have been identified. These areas of copper mineralization coincide with zones of sericite alteration in Laramide and Precambrian rocks.

Copper Fox Metals President and CEO, Elmer B. Stewart, stated:

Copper Fox now has two advanced stage assets, both of which have positive NPV and IRR values as evidenced by National Instrument 43-101 Technical Reports. With these assets and a pipeline of other copper projects, including the recently announced Mineral Mountain project, Copper Fox is positioning itself to meet the anticipated future demand for copper. Copper Fox will continue to focus on those activities that technically advance and add value to our assets to create strong shareholder returns.

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